Non-Fungible Tokens Experience Recovery
After a significant downturn, non-fungible tokens (NFTs) are showing signs of recovery. Many blue-chip NFT collections have seen their floor prices surge in recent days following a mid-year meltdown that saw their values drop by as much as 70%.
Blue-Chip Azuki NFT Collection
The Blue-chip Azuki NFT collection from Chiru Labs has seen a 30% rise in its floor price to 5.69 ETH over the past 30 days.
CryptoPunks NFT Collection
The CryptoPunks NFT collection by Larva Labs has experienced a 10.78% increase in its floor price to 49.85 ETH in the last month.
Mutant Ape Yacht Club NFTs
The Mutant Ape Yacht Club NFT collection from Yuga Labs has also seen a surge of 11.54% in its floor price to 5.55 ETH within the past 30 days.
Bored Ape Yacht Club NFTs
The Bored Ape Yacht Club NFT collection from Yuga Labs has witnessed a rise of over 10% in its floor price to 28.34 ETH in recent days.
Blue-Chip Clone X NFTs
The Blue-chip Clone X NFT collection, developed by RTFKT, has surged over 52% to 1.58 ETH within the past month.
Milady Maker NFTs
The Milady Maker NFT collection from Remilia has seen its floor price soar by 41% to 2.60 ETH recently.
Meebits NFT Collection
Meebits, previously owned by Larva Labs and now by Yuga Labs, has experienced a surge of 24% to 1.20 ETH in its floor price within the last month.
Doodles NFT Collection
Doodles, created by Evan Keast, Scott Martin, and Jordan Castro, has surged by 75% to 2.09 ETH in recent weeks.
Moonbirds NFT Collection
The Moonbirds NFT collection from Proof Collective has surged by 57% to 2 ETH amid the resurgence of the NFT market.
Otherdeed For Otherside NFTs
Otherdeed is an NFT collection from Yuga Labs’ Otherside venture and has seen a surge of 13% to 0.65 ETH within the past month.
NFT Sales Rise Dramatically
In addition to the rise in floor prices, the global NFT market is up across all metrics. The total global sales volume for NFTs exceeded $100 million for the first time since mid-August, with an increase of more than 43% this week alone. The number of buyers has also risen by 17% during this period.
Hot Take: The Future Looks Bright for Non-Fungible Tokens (NFTs)
The resurgence of many blue-chip NFT collections and the significant rise in sales indicate that the market is recovering and thriving once again after a challenging period. This trend suggests that there is renewed interest and confidence in the value and potential of non-fungible tokens, making it an exciting time for collectors and investors alike.
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